Can I retire at age 62 with 1,290,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$106,527$105,578$104,652$103,749$102,866$101,623
2 years$52,736$51,754$50,802$49,879$48,984$47,733
3 years$34,808$33,822$32,872$31,958$31,077$29,857
4 years$25,846$24,863$23,923$23,024$22,165$20,985
5 years$20,470$19,493$18,565$17,685$16,849$15,713
6 years$16,887$15,917$15,003$14,143$13,332$12,241
7 years$14,329$13,367$12,468$11,627$10,843$9,797
8 years$12,411$11,458$10,574$9,754$8,995$7,995
9 years$10,921$9,976$9,107$8,308$7,575$6,620
10 years$9,729$8,794$7,940$7,162$6,454$5,544
11 years$8,754$7,829$6,990$6,233$5,551$4,684
12 years$7,943$7,026$6,203$5,467$4,810$3,986
13 years$7,256$6,350$5,542$4,827$4,195$3,412
14 years$6,669$5,772$4,980$4,284$3,677$2,935
15 years$6,160$5,273$4,496$3,821$3,238$2,535
16 years$5,715$4,838$4,076$3,421$2,861$2,197
17 years$5,323$4,455$3,709$3,074$2,537$1,909
18 years$4,975$4,117$3,386$2,770$2,256$1,663
19 years$4,664$3,815$3,100$2,503$2,011$1,452
20 years$4,384$3,545$2,845$2,267$1,796$1,270
21 years$4,132$3,302$2,617$2,058$1,607$1,113
22 years$3,902$3,083$2,412$1,871$1,441$976
23 years$3,693$2,883$2,227$1,704$1,293$857
24 years$3,502$2,701$2,059$1,554$1,162$754
25 years$3,326$2,535$1,907$1,419$1,046$663
26 years$3,164$2,383$1,769$1,298$942$584
27 years$3,014$2,242$1,643$1,188$849$515
28 years$2,875$2,113$1,527$1,088$766$454
29 years$2,746$1,993$1,421$998$692$400
30 years$2,626$1,882$1,324$916$625$353
31 years$2,514$1,780$1,234$841$565$312
32 years$2,409$1,684$1,151$773$511$276
33 years$2,310$1,595$1,075$711$463$244
34 years$2,218$1,511$1,004$654$419$215
35 years$2,131$1,433$939$602$380$190
36 years$2,049$1,361$879$555$344$168
37 years$1,971$1,292$822$511$312$149
38 years$1,898$1,228$770$471$283$132
39 years$1,829$1,168$721$434$256$117
40 years$1,764$1,111$676$400$232$103
41 years$1,701$1,058$634$370$211$91
42 years$1,642$1,007$595$341$191$81
43 years$1,586$960$558$315$174$71
44 years$1,533$915$524$291$158$63
45 years$1,482$872$492$268$143$56
46 years$1,433$832$462$248$130$50
47 years$1,387$794$434$229$118$44
48 years$1,342$758$408$212$107$39
49 years$1,300$724$383$196$97$34
50 years$1,259$692$360$181$88$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,290,000, adding $4,247 every year, while hoping to spend $55,306 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 41/48/11 Blend
61$1,290,000$1,290,000$1,290,000$1,290,000
62$1,425,961$1,357,591$1,337,596$1,479,614
63$1,512,564$1,365,268$1,323,560$1,525,377
64$1,606,146$1,371,467$1,307,201$1,569,049
65$1,707,362$1,376,058$1,288,381$1,615,085
66$1,816,930$1,378,902$1,266,959$1,663,722
67$1,935,640$1,379,851$1,242,784$1,715,227
68$2,064,359$1,378,747$1,215,702$1,769,896
69$2,204,044$1,375,426$1,185,548$1,828,057
70$2,355,743$1,369,708$1,152,150$1,890,076
71$2,520,613$1,361,408$1,115,331$1,956,361
72$2,699,923$1,350,325$1,074,903$2,027,365
73$2,895,073$1,336,249$1,030,670$2,103,590
74$3,107,601$1,318,955$982,427$2,185,597
75$3,339,199$1,298,207$929,962$2,274,006
76$3,591,731$1,273,752$873,049$2,369,507
77$3,867,247$1,245,326$811,455$2,472,866
78$4,168,004$1,212,645$744,937$2,584,934
79$4,496,486$1,175,411$673,239$2,706,654
80$4,855,430$1,133,307$596,094$2,839,072
81$5,247,845$1,086,001$513,224$2,983,349
82$5,677,047$1,033,136$424,339$3,140,771
83$6,146,686$974,340$329,135$3,312,766
84$6,660,781$909,217$227,295$3,500,914
85$7,223,759$837,347$118,487$3,706,966
86$7,840,494$758,288$2,368$3,932,863
87$8,516,353$671,572$0$4,180,755
88$9,257,247$576,705$0$4,467,286
89$10,069,687$473,165$0$4,782,048
90$10,960,845$360,400$0$5,127,726
91$11,938,619$237,827$0$5,507,595
92$13,011,708$104,831$0$5,925,274
93$14,189,696$0$0$6,384,767
94$15,483,138$0$0$6,911,223
95$16,903,664$0$0$7,550,387
96$18,464,082$0$0$8,252,674
97$20,178,505$0$0$9,024,457
98$22,062,478$0$0$9,872,757
99$24,133,128$0$0$10,805,310
100$26,409,323$0$0$11,830,637